The Complete Guide to Insurance and How It Protects You & Your Home
What is Insurance?
Insurance
is a type of risk management, the process of protecting oneself from financial
loss.
Insurance
is a tricky topic because it has to do with predicting the future. No one knows
for sure what will happen in the future, but insurance provides protection
against the worst case scenario, which is helpful in avoiding any financial
distress.
The
cost of life insurance varies depending on factors such as your age, the type
of policy, and the amount of coverage you want.
See also: Bank of India IFSC Code for all branches
Types of Insurance
Insurance
can be categorized into various types like personal insurance, motor insurance, life
insurance, home insurance, health insurance and personal accident insurance.
Insurance
is an important part of life that helps in protecting any form of loss or
damage to one’s property.
Life insurance, for example, offers
protection against a potential death or end-of-life event that leaves a loved
one behind with no means of support.
Personal accidents are not always covered by the society and for this reason people need to buy personal accident insurance for themselves. The important point of insurance is that it covers not only your losses but also your legal expenses. It can be key if you are in an accident and need to prove fault on the other side.
Health insurance provides financial assistance to
policyholders when they are admitted to hospitals for treatment.
With Home insurance policy, you remain free from all financial
liabilities that may arise from damage to your home or contents inside due to
fires, burglaries, storms, earthquakes, explosions and other events.
Motor insurance refers to policies that offer financial assistance in
the event of accidents involving your car or bike.
See also: Bank of Maharashtra IFSC code for all branches
Things to consider when purchasing an Online Insurance Policy
Benefits of
Service -
You should refer to Service Benefits such as 24 * 7 Customer Support,
Convenient Pick-up & Drop for your car and Wide Network of Free Garages.
Choose the
right Sum Insured
- The right amount insured helps to ensure that you are fully covered in the
event of an emergency
Insurance claims
speed -
Claims are the reason you bought insurance. So check how long your insurance
company takes to pay the claims.
Best Price - If you are satisfied with
the service and Sum Insured, check out the premium and discount you get
See also:
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